Uzbekistan’s GDP increases by 3 percent in Q1 2021

The public debt as of April 1 amounted to $23.4 billion, or 40.5 percent of GDP.

At a regular meeting of the Legislative Chamber of Oliy Majlis, the execution of the state budget for 2020 and the first quarter of 2021 was discussed.

It is reported that in January-March 2021, the republic’s economy grew by 3 percent in relation to the corresponding period of 2020, GDP amounted to 128.6 trillion soums.

In particular, economic growth was ensured in industry by 3.8 percent, in construction – by 0.5 percent, in forestry and fish farming – by 3.1 percent and in the service sector – by 2.8 percent.

The inflation rate on an annual basis was 10.9 percent and in relation to January-March last year – 2.7 percent.

In the reporting period, state budget revenues amounted to 33.9 trillion soums, expenditures – 34.1 trillion soums, budget deficit – 188.2 billion soums, or 0.1 percent of GDP.

Social spending in the first quarter of 2021 increased by 21 percent compared to the corresponding period of last year and reached 18.2 trillion soums.

Also, the public debt as of April 1, 2021 amounted to $23.4 billion or 40.5 percent in relation to GDP. In particular, the domestic public debt reached $2.2 billion (3.7 percent in relation to GDP), and the external public debt – $21.2 billion (36.8 percent).